Richard G. Ketchum

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Richard G. Ketchum
RichardKetchum.jpg
Occupation Chairman & CEO
Employer Financial Industry Regulatory Authority (FINRA)
Location New York
Website www.finra.org

Richard G. Ketchum is chairman and chief executive officer of the Financial Industry Regulatory Authority (FINRA), formed from the 2007 consolidation of NASD and NYSE Member Regulation. He was formerly the non-executive chairman of the board of governors at FINRA, the CEO of NYSE Regulation, Inc. from March 2006 to March 2009,[1] and the chairman of the World Federation of Exchanges' regulatory committee.[2]

After Ketchum’s move to overhaul Finra’s enforcement division, the organization brought 8,271 disciplinary actions against individuals and companies in 2014 and ordered $100 million in fines to be paid to investors.

In November 2015 Ketchum announced that he would retire as chief executive of FINRA in the second half of 2016. Finra’s board will look at internal and external candidates to replace him, a FINRA statement said.[3]

Background

Ketchum has spent three decades as a regulator for the financial industry. He served as the first chief regulatory officer of the New York Stock Exchange starting in March of 2004.[4] From June 2003 to March 2004, he was general counsel of the corporate and investment bank of Citigroup, and a member of the unit's planning group, business-practices committee and risk-management committee.

Previously, he spent 12 years at NASD and The NASDAQ Stock Market, Inc., where he served as president of both organizations.[5] Ketchum joined NASD as executive vice president of legal, regulatory and market policy in 1991, coming directly from the SEC. In 1998, Ketchum was named president after serving at COO under Frank Zarb.[6] Before working at NASD and NASDAQ, Ketchum was with the Securities and Exchange Commission (SEC) for 14 years, with eight of those years as director of the division of market regulation.[7]

On Dec. 15, 2011, Ketchum testified before Congress regarding bankrupt broker-dealer MF Global.[8] He said that former MF Global CEO Jon Corzine had been exposed to European debt in September 2010. According to Ketchum, Corzine had traded a week or two earlier than his response to a FINRA survey that claimed the firm had not been exposed at all.[9]

Education

Ketchum earned his J.D. from the New York University School of Law in 1975 and his B.A. from Tufts University in 1972. He is a member of the Bar in both New York and in the District of Columbia.[10]

References

  1. Global Exchange CEO & Investor Conference. Rosenblatt Securities.
  2. About FINRA, Richard G. Ketchum. FINRA.
  3. Richard Ketchum to Retire From Finra. The New York Times.
  4. NYSE Appoints Richard Ketchum Chief Regulatory Officer. NYSE.
  5. Richard Ketchum. U.S. Securities Exchange Commission.
  6. Richard Ketchum, NASD COO, Gets Additional Post of President. Registered Rep.
  7. Panelists' Biographies Roundtable to Examine Short Sale Price Test and Circuit Breaker Restrictions. U.S. Securities Exchange Commission.
  8. Richard G. Ketchum, Chairman and Chief Executive Officer, Testimony Before the Subcommittee on Oversight and Investigations Committee on Financial Services. FINRA.
  9. The Unraveling of MF Global. MF Global.
  10. Richard G. Ketchum. U.S. Securities Exchange Commission.